The Africa business agenda 2017

6th edition of the Africa business agenda draws on the survey results of PwC’s 20th Annual Global CEO Survey of 1 379 CEOs worldwide. The use of a common set of survey questions allows us to benchmark the views of the 80 African CEOs we surveyed against global averages.

Overview

Getting the balance right between realism and optimism, as well as opportunity and risk, continues to dominate the minds of CEOs as they search for growth in Africa’s fast changing markets.

In the past year we have seen global megatrends such as demographic change, urbanisation, shifts in global economic power and technological innovation continue to affect business dynamics. While their impact is, in many cases more nuanced, successful organisations are also showing greater adaptability and resilience.

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In this issue we discuss the following:

Searching for growth amid uncertainty

Getting the balance right between realism and optimism, as well as opportunity and risk, continues to dominate the minds of CEOs as they search for growth in Africa’s fast changing markets.

Globalisation

Making the most of globalisation

Globalisation has brought many gains over the last 20 years. People, goods and services, capital and information all flow more easily and quickly across the world. But the gains have not been enjoyed equally, and global trade is slowing.

Technology and talent

Technology and talent driving innovation

The forces of globalisation and technology are increasingly transforming the world. Robots are entering the services arena; 3D printing can be used to make cars and aircraft; biotechnology will change the way we grow crops, produce food and manufacture medicines; and nanotechnology and artificial intelligence will affect numerous industries.

Building trust

Building trust

Companies face a rapid acceleration in change as technological innovation and increasing customer expectations transform the business landscape. At the same time, the demands from employees around the purpose and value of their work, a decline in the levels of trust in companies, and the changing role that businesses are expected to play in the broader community are reshaping the corporate environment.

With average GDP growth in sub-Saharan Africa more than halving from 3.4% in 2015 to just 1.5% in 2016, the region has witnessed its biggest economic slowdown since the 1990s.

A decade ago, Africa was `the next big thing', leading many companies to throw caution to the wind in their haste to establish a foothold on the continent. Many African businesses also set out to expand their operations across the continent. While some succeeded and others came to grief, all learned that despite the vast opportunities, doing business in Africa can be risky, complicated and difficult.

In this context, it is reassuring that African CEOs are still looking beyond their home markets for growth, with countries in all regions of the continent featuring among the most important to their companies’ growth prospects in this year’s survey.